Consider the following income statement for the Heir Jordan Corporation:

HEIR JORDAN CORPORATION Income Statement
Sales					$	48,200
Costs						34,000
Taxable income					$	14,200
Taxes (35%)						4,970
Net income					$	9,230
Dividends	$	2,600
Addition to retained earnings		6,630

The balance sheet for the Heir Jordan Corporation follows.

HEIR JORDAN CORPORATION Balance Sheet
Assets				Liabilities and Owners Equity
Current assets				Current liabilities
Cash	$	2,350		Accounts payable	$	4,000
Accounts receivable		5,300		Notes payable		8,200
Inventory		9,000		Total	$	12,200
Total	$	16,650		Long-term debt	$	21,000
				Owners equity
Fixed assets				Common stock and paid-in surplus	$	12,000
Net plant and equipment	$	37,200		Retained earnings		8,650
				Total	$	20,650
Total assets	$	53,850		Total liabilities and owners equity	$	53,850

Prepare a pro forma balance sheet, assuming a 10 percent increase in sales, no new external debt or equity financing, and a constant payout ratio.

Calculate the EFN.